filing bankruptcy and keeping a credit card

Filing Bankruptcy and Keeping “Just One” Credit Card

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Filing bankrupty means listing all your debts.   Sometimes I hear clients say that they don’t want to “file on” a certain debt.   However, you must list all your debts. In my Summerville bankruptcy practice, I frequently hear clients say that they don’t want to file…

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bankruptcy fears

Bankruptcy Fears: “Nothing to Fear But Fear Itself”

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott Bankruptcy and financial problems can be scary.   And you don’t realize how terrifying financial problems can be until you’ve been there yourself. I was chatting with my friend and colleague, Lexington bankruptcy lawyer Lex Rogerson, tonight.   We began discussing some of the emotional aspects of…

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Bankruptcy and Cash Value Insurance

Written by Charleston Bankruptcy Lawyer, Russell A. DeMott In a recent decision South Carolina Bankruptcy Judge John E. Waites upheld a debtor’s claim of exemption in his cash value life insurance under South Carolina Code § 38-63-40(A), which was enacted in 1993. Judge Waites ruled that the statute protects a policy owner’s cash surrender value…

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bankruptcy and your credit score--confusion

Bankruptcy Petition Preparers: Should You Hire One?

Guest Post by Northern Michigan Bankruptcy Lawyer, Paul Slough There’s no shortage of exploitative “get out of debt” offers.  One area ripe with abuse is the arena of non-attorneys who prepare bankruptcy papers.   These “bankruptcy petition preparers” are defined in the bankruptcy code as “a person, other than an attorney for the debtor or…

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The Bankruptcy Means Test (Part Five)

Written by Summerville Bankruptcy Lawyer, Russell A. DeMott In prior post about the bankruptcy means test, I focused on the means test as being a tool to sort out Chapter 7 bankruptcy cases from Chapter 13 cases.   However, it’s important to understand that for some cases, the means test doesn’t even apply. The Two…

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bankruptcy--chapter 7 filing

Bankruptcy Experiences #3

Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott Many of my recent bankruptcy filings are due to what I call “real estate meltdown.”   The decline in the real estate market was inconceivable only a few short years ago.   Here in the Charleston, South Carolina area, real estate never went down by more…

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Filing Bankruptcy When You’re Married

Written by South Carolina Bankruptcy Lawyer, Russell A. DeMott Filing bankruptcy is a family decision.   Even with hectic schedules, it’s necessary for both the husband and wife meet with me together to discuss bankruptcy options. But Our Schedules are Hectic! This is the main reason I get for one spouse wanting to come in…

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bankruptcy and the means test

The Bankruptcy Means Test (Part Four)

Written by Summerville Bankruptcy Lawyer, Russell A. DeMott Passing the bankruptcy means test doesn’t mean you’re cleared for takeoff for a Chapter 7 bankruptcy.   I pointed this out in my last post on the bankruptcy means test. There are two tests that control your eligibility for Chapter 7 bankruptcy: (1) the means test, and…

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Scarlet Letter of Bankruptcy–A Thing of the Past?

Written by New York Bankruptcy Lawyer Jay S. Fleischman. Remember the book, The Scarlet Letter?   You know, the one where the woman does something and is marked for the rest of her life with a huge letter “A” pinned to her blouse? When I was a kid, I took an English class that included…

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